Sheridan Corporation has the following selected transactions during the year ended December 31, 2024: Jan. 1 Purchased a copyright for $129,240 cash. The copyright has a useful life of six years and a remaining legal life of 30 years. Mar. 1 Acquired a franchise with a contract period of nine years for $553,770; the expiration date is March 1, 2033. Paid cash of $39,400 and borrowed the remainder from the bank. Sept. 1 Purchased a trademark with an indefinite life for $79,020 cash. As the purchase was being finalized, spent $36,230 cash in legal fees to successfully defend the trademark in court. Dec. 31 Purchased an advertising agency for $636,000 cash. The agency's only assets reported on its statement of financial position immediately before the purchase were accounts receivable of $57,000, furniture of $168,000, and leasehold improvements of $316,000. Sheridan hired an independent appraiser who estimated that the fair value of these assets was accounts receivable $57,000, furniture $178,000, and leasehold improvements $334,000. Sheridan is not assuming any liabilities pertaining to the agency. Prepare the entries to record the above transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)